Victor Menezes - Revision history

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	Menezes was the Chairman of the Clearing House Association;<ref>{{cite news\|url=http://www.finextra.com/news/announcement.aspx?pressreleaseid=642\|title=The Clearing House elects Wachovia CEO as chairman of board of directors\|date=7 April 2004\|work=Finextra\|access-date=10 June 2011}}</ref> serves as a trustee of the Asia Society, the Eisenhower Fellowships and the American India Foundation. He was named Chairman of the Board of Governors of the National Center for Asia Pacific Economic Cooperation (APEC). {{Ref?\|date=November 2017}} Menezes was a member of Citigroup’s Management Committee and Business Heads Committee. The IIT Bombay calls Menezes its "product" who reached the highest levels of banking and finance.		Menezes was the Chairman of the Clearing House Association;<ref>{{cite news\|url=http://www.finextra.com/news/announcement.aspx?pressreleaseid=642\|title=The Clearing House elects Wachovia CEO as chairman of board of directors\|date=7 April 2004\|work=Finextra\|access-date=10 June 2011}}</ref> serves as a trustee of the Asia Society, the Eisenhower Fellowships and the American India Foundation. He was named Chairman of the Board of Governors of the National Center for Asia Pacific Economic Cooperation (APEC). {{Ref?\|date=November 2017}} Menezes was a member of Citigroup’s Management Committee and Business Heads Committee. The IIT Bombay calls Menezes its "product" who reached the highest levels of banking and finance.

	The Securities and Exchange Commission alleges in its complaint that on March 28, 2002, as part of a cashless exercise transaction, Menezes exercised 825,960 Citigroup stock options and sold 597,000 of the resulting shares at a price of $49.99 per share to cover the taxes and costs of the option exercise. As part of the transaction, Menezes retained 228,960 shares. The complaint alleges that, at the time of this transaction, Menezes was in possession of material, nonpublic information regarding Citigroup's plan to report first quarter 2002 losses totaling hundreds of millions of dollars related to the company's Argentine operations, which Menezes supervised. According to the complaint, Menezes was also aware that Citigroup would miss consensus earnings estimates for the quarter. The final judgment also requires Menezes to pay $1,567,557 of disgorgement, pre-judgment interest of $328,822.77 and a $783,778 civil penalty, for a total payment of $2,680,157.77.<ref>{{Cite web\|url=https://www.sec.gov/litigation/litreleases/lr19549.htm\|title=Victor J. Menezes: Lit. Rel. No. 19549 / January 31, 2006\|website=www.sec.gov\|access-date=2017-10-03}}</ref> <ref>https://www.washingtonpost.com/wp-dyn/content/article/2006/01/31/AR2006013101870.html</ref> <ref>https://www.marketwatch.com/story/ex-citigroup-executive-sec-settle-insider-trading-case</ref><ref>https://www.forbes.com/2006/01/31/menezes-sec-citigroup-cx_lm_0131autofacescan15.html#3eaca3a7389a</ref><ref>https://articles.latimes.com/2006/feb/01/business/fi-briefs1.5</ref>		The Securities and Exchange Commission alleges in its complaint that on March 28, 2002, as part of a cashless exercise transaction, Menezes exercised 825,960 Citigroup stock options and sold 597,000 of the resulting shares at a price of $49.99 per share to cover the taxes and costs of the option exercise. As part of the transaction, Menezes retained 228,960 shares. The complaint alleges that, at the time of this transaction, Menezes was in possession of material, nonpublic information regarding Citigroup's plan to report first quarter 2002 losses totaling hundreds of millions of dollars related to the company's Argentine operations, which Menezes supervised. According to the complaint, Menezes was also aware that Citigroup would miss consensus earnings estimates for the quarter. The final judgment also requires Menezes to pay $1,567,557 of disgorgement, pre-judgment interest of $328,822.77 and a $783,778 civil penalty, for a total payment of $2,680,157.77.<ref>{{Cite web\|url=https://www.sec.gov/litigation/litreleases/lr19549.htm\|title=Victor J. Menezes: Lit. Rel. No. 19549 / January 31, 2006\|website=www.sec.gov\|access-date=2017-10-03}}</ref> <ref>https://www.washingtonpost.com/wp-dyn/content/article/2006/01/31/AR2006013101870.html</ref> <ref>{{Cite web\|url=https://www.marketwatch.com/story/ex-citigroup-executive-sec-settle-insider-trading-case\|title = Menezes, SEC settle at $2.68 million}}</ref><ref>{{Cite web\|url=https://www.forbes.com/2006/01/31/menezes-sec-citigroup-cx_lm_0131autofacescan15.html#3eaca3a7389a\|title = SEC Settles with Citigroup Vet Menezes\|website = [[Forbes]]}}</ref><ref>{{Cite web\|url=https://articles.latimes.com/2006/feb/01/business/fi-briefs1.5\|title = Archives\|website = [[Los Angeles Times]]}}</ref>

	==References==		==References==

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{{Use Indian English|date=July 2015}}
{{Use dmy dates|date=April 2017}}
{{Infobox person
| name = Victor Menezes
| image =
| image_size =
| caption =
| birth_name =
| birth_date = {{Birth date and age|df=yes|1949|05|14}}
| birth_place =
| death_date =
| death_place =
| death_cause =
| nationality = Indian
| other_names =
| alma_mater = [[IIT Bombay]]<br/>[[Massachusetts Institute of Technology]]
| employer =
| occupation = Banker
| spouse = [[Tara Anne Fonseca]]
| children =
| parents = [[Manuel Menezes]]
| relatives = [[Ivan Menezes]] <small>(brother)</small>
| box_width =
}}
'''Victor J. Menezes''' (born 14 May 1949) is a banker.<ref>{{cite news|title=IIT-Bombay gets $3 million gift|url=http://www.hindustantimes.com/IIT-Bombay-gets-3-million-gift/Article1-646487.aspx|access-date=21 January 2011|newspaper=[[Hindustan Times]]|date=5 January 2011|archive-url=https://web.archive.org/web/20110110052048/http://www.hindustantimes.com/IIT-Bombay-gets-3-million-gift/Article1-646487.aspx|archive-date=10 January 2011|url-status=dead|df=dmy-all}}</ref>

==Early life==
He was born in [[Pune]], India on 14 May 1949,<ref name=gb/> the son of [[Manuel Menezes]], who was the chairman of the Indian [[Railway Board]]. His younger brother [[Ivan Menezes]] is CEO of [[Diageo]].<ref name=TimesOfIndia>{{cite web|title=Indian to head world's top liquor co|url=http://epaper.timesofindia.com/Default/Scripting/ArticleWin.asp?From=Archive&Source=Page&Skin=TOINEW&BaseHref=CAP/2013/05/08&PageLabel=3&EntityId=Ar00301&ViewMode=HTML|publisher=Times of India|access-date=6 February 2015}}</ref>

He received his degree in [[electrical engineering]] from the [[Indian Institute of Technology, Bombay]] in 1970. He received an MBA from the [[MIT Sloan School of Management]] in 1972.

==Career==
In 1972, he joined Citicorp in Corporate Banking. Later, he was posted in "practically every continent" – as one bio-sketch put it.{{Citation needed|date=June 2011}} He rose to the post of Chief Financial Officer<ref name="WeillKraushaar2006">{{cite book|last1=Weill|first1=Sandy|last2=Kraushaar|first2=Judah S.|title=The real deal: my life in business and philanthropy|url=https://books.google.com/books?id=iZry3l7rxyMC&pg=PT225|access-date=10 June 2011|date=9 October 2006|publisher=Hachette Digital, Inc.|isbn=978-0-446-57814-1|pages=225–}}</ref> in 1995. He retired from Citigroup as Senior Vice Chairman<ref name="Review2004">{{cite book|title=The best 143 business schools|url=https://books.google.com/books?id=8vT8x1MeOToC&pg=PA390|access-date=10 June 2011|date=21 September 2004|publisher=The Princeton Review|isbn=978-0-375-76418-9|pages=390–}}</ref> after a 32-year global career there. Currently he chairs the Advisory Board for Citi India. Victor Menezes is Senior Advisor of [[New Silk Route]], an international private equity firm.<ref name="Primack">{{cite news|url=http://finance.fortune.cnn.com/2011/03/01/alleged-inside-trader-is-more-than-a-consultant-and-ex-goldman-director/|title=Alleged inside trader is more than a "consultant" and ex-Goldman director|last=Primack|first=Dan|date=1 March 2011|work=[[CNN Money]]|access-date=10 June 2011}}</ref> Menezes Chairs the [[American India Foundation]],<ref name="Kamdar2007">{{cite book|last=Kamdar|first=Mira|title=Planet India: how the fastest-growing democracy is transforming America and the world|url=https://books.google.com/books?id=IfErTYdXU94C&pg=PA24|access-date=10 June 2011|year=2007|publisher=Simon and Schuster|isbn=978-0-7432-9685-4|pages=24–}}</ref> is a Vice Chairman of the [[Asia Society]]<ref name="Society2006">{{cite book|last=Society|first=Asia|title=A passion for Asia: the Rockefeller legacy: a publication in celebration of the 50th anniversary of the Asia Society|url=https://books.google.com/books?id=sZL4bmEnmqQC&pg=PA224|access-date=10 June 2011|year=2006|publisher=Hudson Hills|isbn=978-0-87848-103-3|pages=224–}}</ref> and of [[Catholic Charities]] in New York.<ref>{{cite web|url=http://www.catholiccharitiesny.org/about-us/leadership/board-of-trustees/|title=Catholic Charities NY: Board of Trustees|work=[[Catholic Charities]]|access-date=10 June 2011}}</ref> He chairs the Executive Committee of the [[Eisenhower Fellowships]]. He is a board member of Educational Testing Service<ref>{{cite web|url=http://starpas.azcc.gov/scripts/cgiip.exe/WService=wsbroker1/corp-detail.p?name-id=F07106134|title=EDUCATIONAL TESTING SERVICE, INC.|publisher=Arizona Corporation Commission|access-date=10 June 2011}}</ref> and the MIT Corporation and is on the advisory boards of IIT, Indian School of Business (ISB), MIT Sloan and [[INSEAD]].<ref name=gb>{{cite news|url=https://books.google.com/books?id=J7JIAAAAYAAJ&q=Victor+Menezes+INSEAD|title=Global Banker|year=2004|work=Business India, Issues 687-693|publisher=A.H. Advani|pages=121–|access-date=10 June 2011}}</ref> He also has a convention centre named after him at the Indian Institute of Technology Bombay known as the Victor Menezes Convention Centre (VMCC) which was inaugurated by Mr. Kapil Sibal on 8 January 2011.<ref>{{cite news|url=http://articles.timesofindia.indiatimes.com/2011-01-05/india/28356020_1_iit-b-gifts-halls|archive-url=https://web.archive.org/web/20120820014812/http://articles.timesofindia.indiatimes.com/2011-01-05/india/28356020_1_iit-b-gifts-halls|url-status=dead|archive-date=20 August 2012|title=Alumnus gifts $3m to IIT-B to set up convention centre|date=5 January 2011|work=[[The Times of India]]|access-date=10 June 2011}}</ref>

Menezes was the Chairman of the Clearing House Association;<ref>{{cite news|url=http://www.finextra.com/news/announcement.aspx?pressreleaseid=642|title=The Clearing House elects Wachovia CEO as chairman of board of directors|date=7 April 2004|work=Finextra|access-date=10 June 2011}}</ref> serves as a trustee of the Asia Society, the Eisenhower Fellowships and the American India Foundation. He was named Chairman of the Board of Governors of the National Center for Asia Pacific Economic Cooperation (APEC). {{Ref?|date=November 2017}} Menezes was a member of Citigroup’s Management Committee and Business Heads Committee. The IIT Bombay calls Menezes its "product" who reached the highest levels of banking and finance.

The Securities and Exchange Commission alleges in its complaint that on March 28, 2002, as part of a cashless exercise transaction, Menezes exercised 825,960 Citigroup stock options and sold 597,000 of the resulting shares at a price of $49.99 per share to cover the taxes and costs of the option exercise. As part of the transaction, Menezes retained 228,960 shares. The complaint alleges that, at the time of this transaction, Menezes was in possession of material, nonpublic information regarding Citigroup's plan to report first quarter 2002 losses totaling hundreds of millions of dollars related to the company's Argentine operations, which Menezes supervised. According to the complaint, Menezes was also aware that Citigroup would miss consensus earnings estimates for the quarter. The final judgment also requires Menezes to pay $1,567,557 of disgorgement, pre-judgment interest of $328,822.77 and a $783,778 civil penalty, for a total payment of $2,680,157.77.<ref>{{Cite web|url=https://www.sec.gov/litigation/litreleases/lr19549.htm|title=Victor J. Menezes: Lit. Rel. No. 19549 / January 31, 2006|website=www.sec.gov|access-date=2017-10-03}}</ref> <ref>https://www.washingtonpost.com/wp-dyn/content/article/2006/01/31/AR2006013101870.html</ref> <ref>https://www.marketwatch.com/story/ex-citigroup-executive-sec-settle-insider-trading-case</ref><ref>https://www.forbes.com/2006/01/31/menezes-sec-citigroup-cx_lm_0131autofacescan15.html#3eaca3a7389a</ref><ref>https://articles.latimes.com/2006/feb/01/business/fi-briefs1.5</ref>

==References==
{{Reflist|2}}

{{DEFAULTSORT:Menezes, Victor}}
[[Category:1949 births]]
[[Category:Living people]]
[[Category:IIT Bombay alumni]]
[[Category:MIT Sloan School of Management alumni]]
[[Category:Indian bankers]]
[[Category:Indian Roman Catholics]]